Lien notes that the euro has given back ground, as has the Australian dollar.

But "what I'm watching is the lack of reaction in dollar-yen," she told CNBC's Scott Wapner.

'Fiscal Cliff' Currency Trade

The FMHR crew shares the names of potential "special dividend" issuers. Also, a currency play on the U.S. dollar against the Japanese yen, with Kathy Lien, BK Asset Management.

Lien points out that the dollar had a big rally against the yen during November, and thinks this could be the time when that pair adjusts a bit. The dollar, she says, "is probably the next currency to roll over."

So Lien wants to sell the dollar against the yen, entering at 82.00. She recommends a stop at 82.75 and a preliminary target of 81.25, since "the fiscal cliff is not necessarily very bearish against the dollar." If the pair does move lower, though, she would adjust her trade and set a new target of 80.00.